Homewares supplier Portmeirion (LON: PMP) wants to conserve its cash and it is saving £3.1m by not paying a final dividend even though the 2019 figures were in line with expectations.
Portmeirion was intending to maintain the final dividend at 29.5p a share, but it has decided not to announce one with its full year figures. Management says that it will review the position in three months and may declare another interim dividend – 8p a share has already been paid.
An unchanged dividend would still have been covered 1.5 times. The acquisition of US-based branded homewares supplier Nambe me...
